Latest reports – Page 3329
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PropertyEU Archive
Russian tycoon to return stake in Strabag
Embattled Russian billionaire Oleg Deripaska will return his 25% stake in Austria’s Strabag construction company to its shareholders, Deripaska’s Basic Element holding company told the Moscow Times on Monday. One of the biggest Russian casualties of the global economic crisis, Deripaska is estimated to have lost $25 bn (EUR19.12 bn) ...
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PropertyEU Archive
Property firms' thirst for cash spreads to Continent
A number of leading Continental European listed companies announced bond or share issues last week in efforts to raise new equity from investors. Altogether, the initiatives are expected to raise well over EUR 1 bn.
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PropertyEU Archive
Liberty seeks £600m cash injection
UK listed property company Liberty International has unveiled plans to raise gross proceeds of up to £600 mln (EUR673 mln) through the placement of new shares. The proceeds of the capital hike will be used to reduce net debt, increase the group’s available cash and undrawn committed financing facilities, improve ...
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PropertyEU Archive
European pooled funds suffer both market and leverage woes, says IPD
The unprecedented 100 percentage--point spread of performance within the European unlisted real estate property fund market in 2008 reflected the geography of investment returns, the impacts of leverage, and a further penalty for some investors of adverse currency movements, research based on the new IPD European fund indices reveals.
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PropertyEU Archive
ING sells CBS office to KBC
ING has sold the Double U office property located on the Henri Faasdreef in the Hague to the Belgian Bank/Insurer KBC. According to PropertyNL, PropertyEU's sister Dutch publication, the property was sold for around EUR 65 mln. The 30,000 m[sup]2[/sup] development was completed in 2008 and is leased to Centraal ...
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PropertyEU Archive
No forced office sales in Belgium this year: Savills
Office yields in Brussels may move out in the coming year, but the market is unlikely to see many signs of forced selling given that it less highly leveraged than London, property adviser Savills warns in a new report. The high level of yields being seen in London will also ...
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PropertyEU Archive
Dexus pulls out of Europe
Dexus Property Group has unveiled plans to sell off its entire A$325 mln (EUR 248 mln) European portfolio as it struggles to meet debt payments.The Australian group has appointed DTZ to sell its French property portfolio while a selling agent for its German property portfolio is to be appointed soon.
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News
APG makes sustainability call to pension funds
EUROPE - APG Investments, asset manager for the ABP pension fund, is planning to launch a global real estate sustainability survey with the University of Maastricht.
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News
Illinois State Universities to build infrastructure
UNITED STATES – The State Universities Retirement System of Illinois has issued its first Request for Proposal (RFP) for infrastructure managers.
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News
INREV uncovers worries over LTV covenants
EUROPE – Many institutional investors are concerned that their non-listed real estate funds may breach loan-to-value (LTV) covenants, but they are often reluctant to inject fresh equity into vehicles, according to an INREV survey.
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News
Texas School Fund allocates to real estate
UNITED STATES - The Texas Permanent School Fund has established a 6% targeted allocation to real estate, making this its foray into the asset class.
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News
INREV index reinforces economic downturn
EUROPE - The INREV index returned -26.8% in 2008, down from -2.7% in 2007, as European non-listed real estate funds continued to feel the effects of the global financial crisis.
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News
Tesco pension gets £500m property as every little helps £1bn deficit
UK – Tesco has revealed its pension deficit increased to £1.1bn (€1.2bn) by the end of February 2009, so the firm has pledged £500m of property to the scheme as contingent assets in a bid to improve its financial security.
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News
EC to regulate alternatives managers worth over €250m
EUROPE - Managers of hedge funds, private equity and real estate funds would escape regulation under a proposed European Commission directive targeting alternative investment fund managers, if their assets under management total less than €250m.
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PropertyEU Archive
Fashion retailers also hit by downturn
Fashion retailers are feeling the cold winds of the current downturn, according to Frederic Fontaine, CEO of Corio France. 'Fashion retailers will be looking to reduce their spaces,' he said, adding that he expected the difficulties to continue through 2009 and 2010. 'We will see more adjustments to the ...
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PropertyEU Archive
Foruminvest to develop inner city shopping centre in France
Foruminvest said on Monday that it has reached an agreement with the city of Beauvais, France, for the development of the Jeu de Paume inner city shopping centre located north of Paris. The agreement, which follows 'an intensive period of preparation', will see the Dutch property company build the city's ...
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PropertyEU Archive
European retail industry headed for U-shaped downturn
The European economy is headed for a U-shaped downturn, according to Prof. Norbert Walter, chief economist at Deutsche Bank and one of the keynote speakers at last week's annual conference of the International Council of Shopping Centers in Barcelona. 'US stocks have booked a recovery these past few weeks and ...
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PropertyEU Archive
Europe leads office rent repricing, says Knight Frank
Global prime office rents fell by an average of 4.25% in 2008, according to Knight Frank's Global Real Estate Markets Review and Outlook 2009. Knight Frank noted the strongest declines were in Europe, where rents fell by 12% on average and two-thirds of the continent's major office markets experienced negative ...
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PropertyEU Archive
Sponda signs new EUR 82m credit facility with Helaba
Finnish property company Sponda said on Monday that it has signed a new EUR 82 mln credit facility with German lender Helaba. The five-year credit facility will enable Sponda to refinance its bonds that mature in 2010. For Helaba, this facility further underlines its commitment to the Nordic markets. The ...
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PropertyEU Archive
Deka shops in Maastricht
German fund Deka Immobilien has acquired an office complex in Maastricht, the Netherlands, for a total of EUR 21 mln, reflecting a yiled of 6.85%. The property, which consists of three office buildings, was sold by a private investor and consists of 9,050 m[sup]2[/sup] of office space, 970 m[sup]2[/sup] of ...
